Investing in real estate requires thorough underwriting, strategic partnerships, and continuous market research. Corey shares his background in commercial real estate and his success across multiple states in multifamily investing, making him produce a portfolio of over $1M. 

Fair Winds Capital Investments also exemplifies these qualities by taking calculated risks and exploring new markets while learning from their experiences. Tune in as Corey shares his company’s debt financing strategies and the company's growth plans and predictions about the future of the economy. Listen now!

Key Points From This Episode: 

• Corey’s background and where he is at today.
• Corey’s military background and transition into real estate.
• Corey discusses his move from single-family rentals to commercial real estate and the mental shift to make that change.
• How Corey was able to continue investing in real estate without a significant amount of capital and by getting into syndications and partnerships.
• Why asset management is something that Corey excels at and is his strength as a real estate investor?
• Corey talks about his team and the co-founders of Fair Winds Capital Investments.
• The typical cost of a deal, the money on Corey’s recent projects, and the amount of equity in debt.
• What is Fair Winds finding in the world of debt today?
• Corey shares about the contract they broke during their due diligence in Houston and why.
• The places Corey is looking to invest in today other than Houston.

Tweetables:

“I'm definitely on board with partnerships and invested dollars, my own dollars and bringing it all in together to take down a good deal.” - Corey Chonsky

“For us, we wanted to get as much capital as cheaply as possible. And we went with the blended approach.” - Corey Chonsky

“I'd much rather have partnerships involved in taking down a property than just me trying to do it all on my own.” - Corey Chonsky

“The blended approach to financing allows us to get as much capital as cheaply as possible, reducing the blended rate as much as possible. With the current market conditions, bridge loans could be around 7-7.5%, but with the blended approach, we can get capital at a lower rate.” - Corey Chonsky

Links Mentioned in Today’s Episode:

Rich Dad Poor Dad Book
Fair Winds Capital Investments Website
Fair Winds Capital Investments on Facebook
Fair Winds Capital Investments on LinkedIn

About Corey Chonsky

In 2015, Corey was stationed in Norfolk, VA, where he began his real estate investing career. He began his investing much like other investors by purchasing and rehabbing distressed single-family properties.

While building his real estate portfolio, he doubled his portfolio every year even while continuously focusing on his primary duties as a Naval Officer, which included several deployment workup cycles and being deployed for the majority of 2016 and 2018. He has built a personal portfolio of 53 units worth over $5 million

As Corey winds down his Naval career, he positions himself to fully transition into real estate investing and apartment syndication. He is the lead managing member of a small apartment syndication in the Ocean View area with 23 units across six properties worth $1.55 million. As he moves on from a truly rewarding career in the US Navy, he looks forward to fully committing himself to a life in real estate that will only be second to his family.